This week (ended Aug. 9th), rapeseed inventory totals 338,000 tonnes in domestic coastal areas, a small increase of 3,000 tonnes by 0.9% from 335,000 tonnes last week yet a reduction by 47.02% from 638,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has increased by 11.43% to 234,000 tonnes from 210,000 tonnes last week yet decreased by 50.63% from 474,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one cargo of rapeseed for August shipment and 20,000 tonnes of Australian rapeseed in September amid tensions between China and Canada. So far, it is less likely that China and Canada will see a thaw, and even if that happens, it will take some time for the procedures of purchase, loading and arrival. This will probably result in tight supply outlook of rapeseed, and some foreign-owned factories in Yingkou, Liaoning have turned to purchase domestic rapeseed for crush.

Fig. 1: China’s Rapeseed Stocks in Recent Years

This week (ended Aug. 9th), rapeseed oil stock is 482,100 tonnes, a reduction of 28,800 tonnes by 5.64% from 510,900 tonnes last week and by 4.95% from 507,200 tonnes of the same period last year. More details for stocks:

　　　

Fig. 2: China’s Rapeseed Oil Stocks in Recent Years

This week (ended Aug. 9th), rapeseed meal stock has totaled 54,000 tonnes nationwide, up 4,500 tonnes by 9.09% from 49,500 tonnes last week and by 32.03% from 40,900 tonnes of the same period last year. More details for stocks:

Fig. 3: China’s Rapeseed Meal Stocks in Recent Years